Astro Corporation was started with the issue of 4,500 shares of $10 par stock for cash on January 1, Year 1. The stock was issued at a market price of $17 per share. During Year 1, the company earned $71,100 in cash revenues and paid $47,637 for cash expenses. Also, a $4,100 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Stmt of Stmt of Cash Balance Sheet Statement Changes Flows Prepare the income statement. ASTRO CORPORATION Income Statement For the Year Ended December 31, Year 1

Astro Corporation was started with the issue of 4,500 shares of $10 par stock for cash on January 1, Year 1. The stock was issued at a market price of $17 per share. During Year 1, the company earned $71,100 in cash revenues and paid $47,637 for cash expenses. Also, a $4,100 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Stmt of Stmt of Cash Balance Sheet Statement Changes Flows Prepare the income statement. ASTRO CORPORATION Income Statement For the Year Ended December 31, Year 1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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